CHAMPCAR/CART: Team Rahal announces Long Beach partnership

Team Rahal and New Century Mortgage announce partnership for Grand Prix Of Long Beach HILLARD, OH . . . Team Rahal, a franchise member of Championship Auto Racing Teams ("CART"), and New Century Mortgage Corporation, a subsidiary of New Century...

Team Rahal and New Century Mortgage announce partnership for Grand Prix Of Long Beach

HILLARD, OH . . . Team Rahal, a franchise member of Championship Auto Racing Teams ("CART"), and New Century Mortgage Corporation, a subsidiary of New Century Financial Corporation (Nasdaq: NCEN), announced today a partnership to be an associate sponsor for the upcoming Grand Prix of Long Beach. The logo of New Century Mortgage Corporation will be placed on the Champ Car of Michel Jourdain, Jr., the driver of the Gigante car, Team Rahal's Ford-Cosworth powered Lola Champ Car, featuring Bridgestone Potenza tires, which enters the Grand Prix of Long Beach fourth in the 2002 CART championship.

"We are very excited about partnering with Team Rahal and being a sponsor of a world renowned race team for the Grand Prix of Long Beach," said Patrick Flanagan, President of New Century Mortgage Corporation. "This is a unique opportunity for New Century to be a part of this annual event and to receive national exposure," added Flanagan.

"We are pleased to join in a partnership with New Century Mortgage for the Grand Prix of Long Beach," said three-time CART champion and Team Rahal co-owner Bobby Rahal. "New Century Financial has proven to be one of the leaders in the specialty finance market and we are honored that they have chosen to utilize Team Rahal and CART as a promotional and marketing tool to spread the word about their services. In my conversations with the leaders of New Century Mortgage, I have found them to be a dedicated and driven group of individuals that have aggressive plans for the continued growth of their company. These are the kind of like-minded partners that we seek here at Team Rahal."

New Century Financial Corporation is a leading nationwide specialty mortgage banking company that, through its subsidiaries, originates, purchases and sells residential mortgage loans secured primarily by first mortgages on single-family residences.

Driver Michel Jourdain Jr. holds the distinction of being the youngest driver in Champ Car history, an honor he secured when he made his CART debut in the Grand Prix of Long Beach in 1996 at the age of 19. Jourdain finished fourth in the 2002 CART season opener at Monterrey, Mexico, his highest finish on a road or street course in CART.

Team Rahal is a franchise member of Championship Auto Racing Teams (CART). Headquartered in Hilliard, Ohio, the team owned by three-time CART Champion Bobby Rahal and CBS LATE SHOW host David Letterman, currently fields a pair of Championship Cars for 1996 CART champion Jimmy Vasser and Michel Jourdain Jr. in the CART FedEx Championship Series and an entry for Vasser in the Indianapolis 500. The 65-member team enjoys primary sponsorship from the Shell Oil Company and the Gigante Group in CART and the Miller Brewing Company for the Indy 500. k

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Series IndyCar
Drivers Jimmy Vasser , Bobby Rahal , Michel Jourdain